This marks the second consecutive quarter of contraction, leaving startups searching for ways to reignite growth. However, analysts do not see a quick turnaround.
The market, now saturated, has shifted from tech-savvy early adopters to more price-sensitive consumers, who remain unconvinced by incremental upgrades.
"The value proposition for many wearable devices has plateaued," says Navin Honagudi of Elev8 Venture Partners. "Meaningful innovation is needed to reset the demand cycle," he added.
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RBI's record forward dollar position undermines forex reserves comfort
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